PSB and Indian Bank revises deposit rates

Following the rate cut by private sector banks, some public sector banks have also made revisions in the interest rates on their domestic term deposits.

Punjab and Sind Bank has revised the rate on deposits (less than Rs 15 lakh) for 15-30 days to 5 per cent, 31-45 days to 6.25 per cent and 46-90 days to 6.25 per cent.

Indian Bank has also revised its interest rates on term deposits (below Rs 15 lakh) to 8 per cent for a period of 91 days to 1 year, 9.25 per cent for 1-2 years and 9.5 per cent for 2-3 years. The interest rates on deposits for the other periods, 15-45 days, 46-90 days and above 3 years, remain unchanged.